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Global IT spending to grow 4.6% in 2010 – Report

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As the global economy recovers IT spending will grow and emerging markets will be in the lead.

A report by Gartner, a UK-based research company which says on its website it “is the world’s leading information technology research and advisory company,” says as the global economy recovers IT spending will grow at 4.6% in 2010.

According to the report worldwide IT spending $3.4 trillion, a 4.6% increase from 2009 figures.

Describing the growth level as modest, the report says “this projected growth represents a significant improvement from 2009, when worldwide IT spending declined 4.6 percent.”

It also indicates that all major IT segments computing hardware, software, IT services, telecom, and telecom services are expected to grow.

Commenting on the report, Richard Gordon, research vice president at Gartner said “last quarter, we did not expect to see IT spending levels recover to 2008 levels until 2011, however, now, with the upward revision to the current dollar forecast, we are projecting that global IT spending this year will approach the level seen in 2008.”

“Our updated forecast for IT spending to reach $3.4 trillion in 2010 is actually a year earlier than we expected leveling our previous forecast update, and reflecting a bounce back in underlying IT spending from the sharp drop in 2009.
“While this forecast might seem bullish at first, it’s important to factor in the impact that exchange rates will have on the markets,” he said.

“Much of the increase in our revised 2010 forecast can be attributed to a projected decline in the value of the U.S. dollar compared to 2009,” he added.

The report noted that IT spending growth in emerging markets (with the exception of central and eastern Europe and some of the Gulf states) is expected to lead the way, with spending forecast to grow 9.3% in Latin America, 7.7% in the Middle East and Africa and 7% in Asia/Pacific. Recovery in Western Europe, the United States and Japan will start more slowly, with Western Europe increasing 5.2%, the U.S. growing 2.5%, and Japan increasing 1.8%.

By Emmanuel K. Dogbevi

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